Apparently, this is a thing that actually occurred. I find it abhorrent, needless to say.
UBS’ Michael Crook: Instead of cutting spending in retirement after a down year, consider securities-based loan until mkt comes back.
— Greg Crawford (@gfcrawford) February 9, 2015
Greg Crawford is a journalist at industry trade mag Investment News. I don’t know the context or the venue at which this was suggested – but does that even matter?
This is what happens when you take advice from a bank with different priorities than your own.
Best of luck.